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Pioneers’ bid for Arab Dairy trumped once more by Lactalis

In an ongoing battle for control of Egypt’s Arab Dairy, financial investment firm Pioneers Holding saw its latest offer to the remaining shares in the company that it does not already own topped once more by Al-Nour for Dairy, a subsidiary of European dairy group, Lactalis, The new bid values the company at almost $52 million. Pioneers first offered to buy the company in September 2014, in a deal worth $35 million.

Read more at Reuters…

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